|For Immediate Release
Case # 12CF1337
November 6, 2012
|Susan Kang Schroeder
Chief of Staff
MAN SENTENCED TO SIX YEARS IN PRISON FOR DEFRAUDING $350,000 FROM INVESTORS HE MET THROUGH YOUTH SPORTS PROGRAMS
SANTA ANA – A man was convicted and sentenced today to six years in state prison for defrauding over $350,000 from investors, whom he met through youth sports programs. Christopher Alan Tate, 47, Mission Viejo, pleaded guilty to seven felony counts of securities fraud, eight felony counts of passing non-sufficient funds checks, and one felony count of forgery. He admitted to sentencing enhancements for committing aggravated white collar crime over $100,000 and property loss over $200,000. Tate must also pay restitution and a fine of $887,944.
Between April 2008 and May 2010, Tate convinced at least nine victims, who are parents and grandparents that he met through the youth sports programs that his children participated in, to invest money in a business with the promise of high and quick returns.
Tate received approximately $350,000 from his victims and never paid them back or returned their investment money. Tate made elaborate excuses to the victims when asked about their investment and gave them non-sufficient funded checks or forged checks.
On one occasion, Tate falsely told a victim that the money was tied up in bankruptcy court as a result of the 2008 real estate crash and scheduled a meeting with the victim outside of the courthouse. Tate walked out of the courthouse to meet with the victim, making it appear as if he had attended a bankruptcy hearing.
The victims reported the case to the Garden Grove Police Department, who investigated this case.
On Nov. 2, 2012, six victims delivered impact statements to the court describing their financial situations after being defrauded by the defendant. One victim said, “What Chris Tate has done is left my family financially ruined. I had to take out mortgages, and it will take me another 30 years to pay off these loans to get back to where I was. Additionally, $150,000 was given to Tate, which was supposed to be for my mother-in-law with Alzheimer’s. Now I am having to cover all those costs of taking care of her.”
Another victim said, in part, “Chris Tate has ruined our family. He is a pathological liar. He lied about everything. My wife is suffering from an illness that is directly linked to stress. This stress was given by the lies and financial loss that Chris Tate has caused us.”
Deputy District Attorney Megan Wagner of the Major Fraud Unit prosecuted this case.